Subjective Questions on In a competitive market the demand function is given as while the marginal cost of product........... for Indian Economic Service Preparation

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In a competitive market the demand function is given as while the marginal cost of product...........

Economics-I Theory of Production and Cost
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    In a competitive market, the demand function is given as \small Q_{D}=24-P ,while the marginal cost of production is \small MC=2+Q. There is a negative

    externality giving rise to the total externality cost   \small C= -2Q+ \frac{Q^{2}}{2} .  Compare the private and social optimum quantity and price. (8 Marks) (150 words)

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